Press Release

LIA now offers professional liability insurance and surety bonds for valuation firms and appraisal management companies (AMC).

LIA Administrators & Insurance Services is pleased to announce new resources for professional liability insurance and surety bonds for valuation firms and appraisal management companies. LIA’s new products are in response to requests from appraisers and the valuation industry for coverage meeting the challenges caused by the mortgage crisis and changes in the field of appraising.

New firms and AMCs are being formed by appraisers in response to these changes, while existing valuation firms and AMCs are being required to carry higher limits and different types of coverage. Many state regulators are enacting AMC licensing, including bonds and other insurance requirements.

Accordingly, LIA developed an insurance product specifically designed for valuation firms and AMCs.  Professional Liability insurance is available in all 50 states on a surplus lines basis, and all carriers are A.M. Best rated “A” (Excellent), Financial Size Category XV.  Bonds are underwritten by one of the country’s top bonding companies.

This is another example of how LIA continues to meet the ever-changing needs of the appraisal industry and to serve all of its clients with the knowledge and expertise it has developed since it first began providing liability insurance to the appraisal industry in 1977.

Please contact Robert A. Wiley or Peter Christensen at LIA for more information about insurance or bond products for appraisal firms and AMCs.

Robert A. Wiley, Asst. V.P.
robert@liability.com
800-334-0652, Ext. 128

Peter Christensen, General Counsel
peter@liability.com
800-334-0652, ext. 148